Wednesday, March 09, 2011

Let's aim for the border--Canada

Canada is 6th in the world in economic freedom, and the United States is 9th. Baby steps. There's a lot that could be done to restore our economic freedom.

Country rankings for trade, business, fiscal, monetary, financial, labor and investment freedoms

"The United States’ economic freedom score is 77.8, making its economy the 9th freest in the 2011 Index. Its score is 0.2 point lower than last year, reflecting deteriorating business freedom, trade freedom, government spending, and monetary freedom. The U.S. is ranked 2nd out of three countries in the North America region, and its overall score is well above the world and regional averages.

The U.S. economy faces enormous challenges. The government’s recent spending spree has led to fragile business confidence and crushing public debt. Interventionist responses to the economic slowdown have eroded economic freedom and long-term competitiveness. Drastic legislative changes in health care and financial regulations have retarded job creation and injected substantial uncertainty into business investment planning."

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"Canada’s economic freedom score is 80.8, making its economy the 6th freest in the 2011 Index. Its overall score is 0.4 point higher than last year, reflecting gains in fiscal and monetary freedom. Canada is ranked 1st out of three countries in the North America region.

The Canadian economy continues to sharpen its long-term competitiveness. Scoring high in many of the 10 economic freedoms, Canada performs particularly well in business freedom, financial freedom, property rights, and freedom from corruption. Straightforward regulations and the competitive tax regime facilitate entrepreneurial activity and lure dynamic investment. The corporate tax rate is scheduled to decline further to 15 percent in 2012."

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